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The objectives of inventory management in traditional organizations used to be to maintain a check and balance system for inventories in order to ensure that a sufficient supply is maintained with the required stocks. Inventories give a true position about a company's business as to how well it is performing. The modern inventory management systems follow a procedure called Just In Time System (JIT) which requires to maintain a minimum optimal level of stocks in order to be efficient, reduce the time taken to service the customers and save on overheads. McDonalds is an example of the Just In Time inventory management system.
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